Michigan Favored for CFP National Championship, but Big Bets on Washington

Posted on: January 8, 2024, 12:40h. 

Last updated on: January 8, 2024, 12:55h.

Devin O'Connor @CasinoorgDevinO Read More
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Top-ranked Michigan (14-0, Big Ten) hopes to cap off their undefeated run tonight in Houston with a victory in the College Football National Championship over No. 2 Washington (14-0, Pac-12). Bettors believe the Wolverines will send off coach Jim Harbaugh in style in what many expect will be his final game leading the team from Ann Arbor.

Michigan Washington odds college football
Quarterbacks J.J. McCarthy (left) of Michigan and Michael Penix Jr. of Washington lead their teams Monday night in the College Football Playoff National Championship. Bettors like Michigan to prevail. (Image: CBS Sports)

BetMGM told Casino.org Monday morning, hours ahead of the 7:30 p.m. EST kickoff, that Michigan is commanding both its tickets and handle.

The Wolverines, the sportsbook relayed, are responsible for 53% of the bets placed on the title game and 56% of the overall money wagered. Michigan is spotting Washington 4.5 points on the spread.

As for the moneyline, the Wolverines are favored at -190 and the Huskies are the dogs at +170. Winning bets on those lines would respectively net $52.63 and $170. Washington has attracted more moneyline bets at 65%, but the money remains with Michigan at 53%.

Michigan beat Alabama in their CFP semifinal matchup in a 27-20 overtime Rose Bowl thriller that covered the spread for Wolverines backers. Washington outlasted Texas 37-31 in the Sugar Bowl. The Huskies were 4.5-point underdogs against the Longhorns.

Before the 2023-24 college football season kicked off, Michigan was 10/1 (+1000) to win the title and Washington was at 30/1 (+3000).

Notable Bets

BetMGM says its largest bet on Monday night’s college football championship game is $100K on Washington being spotted 4.5 points. The sportsbook also has an outstanding $4,000 futures bet placed on the Huskies in September on +2000 odds that would net $80K with a Washington win.

BetMGM confirmed it also took a $1,000 bet on Michigan in May winning their first college football national championship since 1997 on odds of +1000 that would net $10K.

Bettors are anticipating a big night for Washington quarterback Michael Penix Jr. BetMGM says one of its most popular player props tonight is Penix throwing for more than 297.5 yards (-115).

There’s also much anticipation for Michigan running back Blake Corum to score the first touchdown of the game (+275) and to score a TD at some point during the game (-350). The Corum lines are BetMGM’s two most popular props.

Legal Sports Betting States

For the first time in college football history, the NCAA title game will include two schools from states where sports betting is legal in some form.

Michigan is home to both in-person and online sports betting, while sportsbooks are permitted in Washington at the state’s tribal casinos. Bettors in Washington must physically visit a tribal sportsbook to place a legal sports wager on the Wolverines-Huskies showdown.

Nationwide, there are 37 states plus Washington, DC that offer legal sports betting. Twenty-eight of those states and DC permit sports betting online, so long as bettors are physically located within the state.

Though Michigan and Washington fans will be able to place a legal sports bet in the schools’ home states, that isn’t the case at the national championship venue in Houston, as Texas continues to prohibit legal sports betting. NRG Stadium, home of the NFL Houston Texans, plays host to the biggest college football game of the year.